Contractor Plant Insurance

Yes, if you hire any equipment. Most hire companies hold you liable for damage to their machines while in your care under the hire agreement. Hired-in plant cover protects you against these costs. Without it, you could be responsible for tens or hundreds of thousands of dollars in repair or replacement costs.

Most comprehensive plant policies cover accidental damage to underground services such as gas, water, electricity and telecommunications. However, some policies exclude underground service damage or impose specific conditions such as requiring dial-before-you-dig searches. Check your policy wording or ask your broker to confirm.

Most head contractors, principal contractors and government agencies require a minimum of $10 million to $20 million public liability. The required limit depends on the type and scale of work. Shielded can arrange cover at the limits your clients and contract conditions require.

Yes. Fleet policies allow you to add new equipment and remove sold or disposed equipment throughout the policy period. Premium adjustments are typically calculated pro-rata. This flexibility is important for contractors whose fleet changes with project requirements.

Yes. Comprehensive plant insurance covers theft from job sites, depots and during transit. Insurers may require GPS tracking, immobilisers and site security measures. Higher excesses can apply to theft claims if minimum security standards are not met.

Transit cover protects your equipment while being moved on a float or low loader between job sites. Some policies include transit as standard, while others require it as an add-on. Confirm transit cover is included before moving your plant.

Shielded compares quotes from specialist plant insurers including GT Insurance, Chubb, CGU, Zurich, QBE, Vero and Hollard. The best insurer depends on your fleet size, type of contracting work and claims history. As brokers, we find the most competitive and suitable cover for your contracting operation.

We provide cover for a wide range of plant and equipment including excavators, bulldozers, loaders, cranes, forklifts, boom lifts, scissor lifts, telehandlers, concrete pumps, graders, rollers, compactors, generators, and specialist mining and forestry equipment. Whether you own a single machine or manage a fleet, we tailor policies to match your operation.

Plant and machinery insurance typically covers accidental damage, fire, theft, malicious damage, storm and flood damage. You can also add public liability, road risk liability for registered machines, downtime or loss of use cover, hired-in plant cover, and personal accident cover for operators. Policies can be tailored for own use, dry hire or wet hire operations.

Premiums are typically calculated as a percentage of the sum insured value, usually between 1.5% and 4% depending on the equipment type, use, and claims history. A $100,000 excavator might cost $2,000 to $4,000 per year for comprehensive cover. Fleet policies covering multiple machines can often achieve better rates. Request a free quote through Shielded for an accurate indication.

Dry hire means you hire out equipment without an operator - the hirer is responsible for operating the machine. Wet hire means the equipment comes with an operator. The insurance requirements differ significantly. Dry hire owners need material damage cover on the equipment plus hired-out plant liability. Wet hire operators also need public liability, workers compensation for operators, and potentially road risk cover.

Yes. Hired-in plant cover protects equipment you hire from a third party while it is in your care, custody and control. Most hire agreements make the hirer responsible for damage to the equipment. Without hired-in plant cover, you could be liable for the full replacement cost of a machine that is damaged or stolen on your site.

If your equipment is registered for road use and travels on public roads (e.g., rollers, graders, mobile cranes), you need road risk or third party property damage cover for when the machine is in transit. Compulsory Third Party (CTP) insurance covers personal injury, but it does not cover property damage to other vehicles or infrastructure.

Contact us at Shielded Insurance on 1800 97 98 99 or reach out to your insurer directly. We recommend notifying us as soon as possible after an incident, documenting the damage with photos, and securing the equipment to prevent further loss. Our team will guide you through the claims process.

Downtime cover (also called loss of use or hire cost reimbursement) provides a daily or weekly payment when your equipment is off-hire or unable to work following an insured event. This helps cover the cost of hiring a replacement machine or compensates for lost revenue while your equipment is being repaired.

We compare quotes from specialist plant and equipment insurers including GT Insurance, Chubb, CGU, Zurich, QBE, Vero, Hollard, and others depending on the type of equipment and use. The best insurer depends on whether the machinery is used for own work, dry hire, wet hire, mining, or construction. As brokers, we find the most competitive and suitable cover for your operation.

Yes. Fleet policies covering multiple pieces of equipment under one policy can simplify administration, provide consistent renewal dates, and often achieve better premium rates than insuring each machine individually. Fleet policies are suitable for contractors, plant hire companies and mining operators with multiple assets.